Q2 2022 EPS Estimates for Gentex Co. Increased by Jefferies Financial Group (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX – Get Rating) – Equities research analysts at Jefferies Financial Group lifted their Q2 2022 EPS estimates for Gentex in a research report issued to clients and investors on Monday, April 25th. Jefferies Financial Group analyst D. Kelley now expects that the auto parts company will earn $0.36 per share for the quarter, up from their previous estimate of $0.31. Jefferies Financial Group also issued estimates for Gentex’s FY2022 earnings at $1.56 EPS and FY2023 earnings at $2.24 EPS.

GNTX has been the subject of several other research reports. Exane BNP Paribas started coverage on Gentex in a research note on Monday, April 11th. They set an “outperform” rating for the company. BNP Paribas started coverage on Gentex in a research note on Monday, April 11th. They issued an “outperform” rating for the company. Zacks Investment Research upgraded Gentex from a “sell” rating to a “hold” rating and set a $38.00 target price for the company in a research note on Wednesday, January 5th. StockNews.com assumed coverage on Gentex in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Robert W. Baird lifted their price target on Gentex from $33.00 to $34.00 in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Gentex has a consensus rating of “Buy” and an average target price of $34.54.

GNTX stock opened at $29.65 on Wednesday. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.58 and a beta of 0.97. Gentex has a fifty-two week low of $27.06 and a fifty-two week high of $37.90. The stock has a fifty day moving average of $28.92 and a 200-day moving average of $32.66.

Gentex (NASDAQ:GNTX – Get Rating) last posted its quarterly earnings results on Friday, April 22nd. The auto parts company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $468.50 million during the quarter, compared to the consensus estimate of $432.40 million. Gentex had a return on equity of 18.74% and a net margin of 20.84%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 EPS.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 20th. Investors of record on Friday, April 8th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.62%. Gentex’s dividend payout ratio is 34.29%.

In other Gentex news, CEO Steven R. Downing sold 58,937 shares of Gentex stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $30.36, for a total value of $1,789,327.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven R. Downing sold 31,000 shares of Gentex stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $31.50, for a total value of $976,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,354 shares of company stock worth $5,206,731. 0.38% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. First Republic Investment Management Inc. increased its stake in shares of Gentex by 3.5% during the third quarter. First Republic Investment Management Inc. now owns 9,407 shares of the auto parts company’s stock valued at $310,000 after buying an additional 321 shares during the period. We Are One Seven LLC increased its stake in shares of Gentex by 1.8% during the fourth quarter. We Are One Seven LLC now owns 20,607 shares of the auto parts company’s stock valued at $718,000 after buying an additional 367 shares during the period. First Citizens Bank & Trust Co. increased its stake in shares of Gentex by 5.4% during the first quarter. First Citizens Bank & Trust Co. now owns 7,223 shares of the auto parts company’s stock valued at $211,000 after buying an additional 373 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Gentex by 1.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 25,212 shares of the auto parts company’s stock valued at $831,000 after buying an additional 464 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Gentex by 1.7% during the fourth quarter. Fifth Third Bancorp now owns 28,392 shares of the auto parts company’s stock valued at $989,000 after purchasing an additional 464 shares in the last quarter. 82.51% of the stock is currently owned by institutional investors and hedge funds.

About Gentex (Get Rating)

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.

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